that comes to mind. The island has been The new upscale casino hotel is the Macau,” says Park. And in a bid to further
designated a UNESCO World Natural first foreign-managed property in Jeju improve the local gaming industry’s image
Heritage site and boasts beautiful scen- and is Park’s brainchild. and bolster players’ confidence, the firm’s
ery and an array of golf courses. This has Owned by Gillman Investment Asia, chief operating officer Ja Kweon Koo is
established it as a tourism mecca for lei- the fledgling operation opened its doors keen to see the Jeju government station
sure travellers, attracting nearly six mil- this April and is already transforming the independent inspectors in every casino to
lion visitors in 2007 alone. face of the gaming industry on the island help resolve customer disputes.
Despite already being home to eight with 202 luxury hotel rooms and Las Ve- Like the first foreign operators in
casinos, gaming makes up less than 10 per- gas-style casino and entertainment facili- Macau four years ago, US-funded LVe-
cent of the resort’s total tourism revenues. ties. gas’ debut in Jeju has also helped usher in
Before LVegas’ arrival, the island’s a new gaming era - not to mention add-
Shuffling the deck casinos were blighted by allegations of ing to the company’s success.
cheating, leading to sharp declines in The newcomer is currently the fifth
However things may change pretty earnings in recent years. highest grossing property among South
soon. T.H.E. Hotel & LVegas Casino’s “Because of us, Jeju’s gaming indus- Korea’s 17 casinos, and in its first full
chief marketing officer Sang H. Park, try has repaired its reputation. We did this month of operation, it raked in 39 percent
believes the gaming industry can play a by urging the other casino operators to of Jeju’s total gaming revenues – the top
more significant and dynamic role in the follow the rules laid down by the authori- earner among the island’s eight casinos.
island’s economic growth. ties, just like the way things are done in Not only that, LVegas’ chief financial
december 2008
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